Crypto market daily report – September 11, 2018

The cryptocurrency markets continued to stabilize after a relatively torrid day on Monday, when most of the coins reached yearly lows. BTC reached the $6350 mark on low turnover, but further selling pressure could mean that the price reduces further. Bitcoin Cash also went down to a yearly low when it traded at just under the $470 mark with turnover, however, increasing dramatically.

Ethereum continued dropping below the $200 level and was even down to the $180s at one point on Monday, after which it showed a slight upward movement to the $195 level. It appears that huge selloffs from ICOs that are based on Ethereum chain have had a considerable effect on the price. Ripple was also down by around 8% to fresh yearly lows of $0.27, and it appears a very long way back for the currency now. Litecoin was also flirting with yearly lows at the $55 level, whilst EOS seemed to be settling at the $5 mark after a short decline to below the $4.90 level.

Other currencies with smaller market caps also seemed to stabilize after considerable declines over the past few days. IOTA was up by 1% to the $0.57 level, whilst Stellar was also up by a similar amount to the $0.19 mark. NEO remained relatively stable at the $18.50 level, whilst ONT was down by just over 1% to the $1.83 mark. ICX declined by about 4% to the $0.61 level, whilst Ethereum Classic was stable in the $11.50 mark or an increase of 3%. Dash was also stable at around the $198 mark, whilst Cardano continued declining by no less than 5% and reached an all time low of $0.07 at press time on Tuesday.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

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